Top Posters
Since Sunday
17
s
5
j
4
s
4
C
3
W
3
a
3
H
3
s
3
a
3
o
3
K
3
Home Q & A Board Other Fields Homework Help Business Finance
New Topic  
Memphic Memphic
wrote...
Go to Answer
Posts: 728
Rep: 0 0
5 years ago
You are looking for a new truck and see the following advertisement.  "Own a new truck!  No money down.  Just five easy annual payments of $8000."  You know that you can get the same truck from the dealer across town for only $31,120.  The interest rate for the deal advertised is closest to:
A) 9%
B) 8%
C) 8.5%
D) 10%
Textbook 
Corporate Finance: The Core

Corporate Finance: The Core


Edition: 4th
Authors:
Read 1116 times
10 Replies
Replies
Answer verified by a subject expert
deusmarotodeusmaroto
wrote...
#1
Posts: 429
Rep: 6 0
5 years ago
Sign in or Sign up in seconds to unlock everything for free
More solutions for this book are available here
A
Explanation:  A) PV = 31120
FV = 0
N = 5
PMT = -8000
Compute I = 8.9965%

Related Topics

wrote...
#2
3 years ago
Thank you!
wrote...
#3
3 years ago
good
wrote...
#4
3 years ago
thank u
wrote...
#5
2 years ago
Thank You
wrote...
#6
2 years ago
thanks
wrote...
#7
2 years ago
thanks
wrote...
#8
2 years ago
thanks
wrote...
#9
2 years ago
tf
wrote...
#10
2 years ago
ty
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  113 People Browsing
 303 Signed Up Today
Start New Topic Take the Tour Study Tips Study ToolsNew Topics Trending Browse by Textbook
Related Images
  
 599
  
 134
  
 126
Your Opinion
Do you believe in global warming?
Votes: 349
Previous poll results: Where do you get your textbooks?